The Second Circuit on Wednesday revived a European Union suit accusing RJR Nabisco Inc. of running a criminal money-laundering and cigarette-smuggling scheme, saying Racketeer Influenced and Corrupt Organizations Act claims can apply to foreign groups and misconduct outside the U.S.
China’s medical device industry is going through rapid growth and change as the country's population ages and urbanizes. Recently promulgated regulations will reward innovative and ethical companies and also provide an opportunity for industry consolidation as noncompliant domestic players may be forced to exit the market, say Katherine Wang and Fan Yang of Ropes & Gray LLP.
The question of whether the U.S. government should be held liable for cleanup costs at industrial facilities that produced war material during WWII is playing out in ExxonMobil Corp. v. USA. We believe that three cases decided in the 1990s, which remain good law, answer this question in the affirmative, say Christopher Marraro and Thomas Hogan of BakerHostetler LLP.
The U.S. Securities and Exchange Commission's recent guidance on third-party social media commentary in investment adviser advertising maintains existing agency principles while providing greater latitude under the Testimonial Rule. Advisers must be willing to adopt a fairly specific and practical policy for social media advertising, and policies should include ways of managing the "do's" and "don'ts" of publishing site commentary, say attorneys at Bingham McCutchen LLP.
Data compiled on federal employee compensation reveals statistically significant differences based on gender in the U.S. Departments of Justice and Labor, the two agencies expected to be most vigilant in rooting out discrimination. Thus, before the DOL considers adopting a reporting standard for federal contractors' compensation practices, it should consider how the government would fare under alternatives, say Stephen Bronas of Welch Consulting Inc. and Allan King of Littler Mendelson PC.
Subscription facilities have become attractive financing opportunities for a wide range of funds throughout the private equity, real estate, energy, infrastructure and mezzanine debt space. With even the most basic subscription facility, a fund can borrow to “bridge” the time between the making of an investment or the payment of expenses and the calling of capital at a later date to repay the borrowing, say Mary Touchstone and Julia Kohen of Simpson Thacher & Bartlett LLP.
As the hospitality industry is beginning its busy time and hiring its seasonal workers, it continues to face a variety of legal challenges — from increased wage laws and new threats of privacy and data breaches to compliance with the Affordable Care Act and the Americans with Disabilities Act, say attorneys with Epstein Becker & Green PC.
In order for a bankruptcy trustee to establish standing to prosecute claims and interests post-confirmation, a plan must specifically describe the claims and interests being retained. However, there are differing opinions as to the required degree of specificity that is needed when identifying such claims, which opens the door to potential legal challenges, says Ilan Scharf of Pachulski Stang Ziehl & Jones LLP.
Over the last 15 years, financial institutions have paid billions of dollars to settle claims that they colluded with each other. In this two-part series, we discuss cases beginning with the Nasdaq spread collusion allegations in the late 1990s and ending with the more recent Libor and Forex investigations, identify lessons that emerge, and suggest steps that firms, and in some cases, regulators, may wish to consider to reduce risks going forward, says Jon Eisenberg of K&L Gates LLP.
The process for investigative hearings is another instance in which the Consumer Financial Protection Bureau’s rule of the road diverges from those of many other government agencies. Enforcement lawyers and the institutions they represent are working within a new rubric, say Jonice Tucker and Amanda Raines of BuckleySandler LLP.
Section 38.001 of the Texas Civil Practice Remedies Code is cited as a basis for the recovery of attorneys' fees in virtually every breach of contract action asserted under Texas law. However, the statute’s brevity raises several questions regarding its scope and application, including who qualifies as an “individual or corporation” against whom such a fee award may be entered. The issue was tackled head-on in Fleming & Associates v. Barton, says James Holbrook III of Zelle Hofmann Voelbel & Mason LLP.